24 Sep The high-profile Limes Hotel sold to private investors after record interest
The Limes Hotel in Fortitude Valley, Brisbane has been sold to private investors after an Expressions of Interest campaign.
The incoming purchasers plan to revamp the hotel with the introduction of new guest services.
The award-winning, Alexander Lotersztain designed hotel was marketed by CBRE Hotels’ agents Hayley Manvell, Paul Fraser and Wayne Bunz.
Opened in 2008, the 4-star boutique hotel comprises 21 guest rooms and a rooftop bar featuring two plunge pools.
“The investment fundamentals for this asset are truly compelling and, as such, the asset was highly sought after, with the sales campaign attracting approximately 150 enquiries from a range of hospitality owner operators, funds and investors,” Ms Manvell said.
“The asset also generated interest from several offshore investors, with the phenomenal response reflecting the strong marketing campaign and the high-profile nature of this asset.”
Arnaud Millecamps, of hotel investment advisory firm Prime Square, assisted the purchasers in the acquisition.